Please read the following carefully. The PIMCO Companies’ social media profiles and pages provide market information, investment insights and company news. We hope the information is insightful, but it is provided for information purposes only, does not constitute investment advice, and should not be used as the basis for any investment decision, nor is it individualized investment advice or a recommendation of a service, strategy, product or security. The PIMCO Companies’ social media profiles and pages are not intended to be, and are not, an offer or solicitation with respect to the purchase or sale of any security or other financial instrument or any investment management services. They also do not purport to provide any legal, tax or accounting advice. The PIMCO Companies, as a general matter, provide services to qualified institutions, financial intermediaries and institutional investors. Individual investors should contact their own financial professional to determine the most appropriate investment options for their financial situation. This is not an offer to any person in any jurisdiction where unlawful or unauthorized. | Pacific Investment Management Company LLC, 650 Newport Center Drive, Newport Beach, CA 92660 is regulated by the United States Securities and Exchange Commission. | PIMCO Europe Ltd (Company No. 2604517, 11 Baker Street, London W1U 3AH, United Kingdom) is authorised and regulated by the Financial Conduct Authority (FCA) (12 Endeavour Square, London E20 1JN) in the UK. The services provided by PIMCO Europe Ltd are not available to retail investors, who should not rely on this communication but contact their financial adviser. | PIMCO Europe GmbH (Company No. 192083, Seidlstr. 24-24a, 80335 Munich, Germany), PIMCO Europe GmbH Italian Branch (Company No. 10005170963, Corso Vittorio Emanuele II, 37/Piano 5, 20122 Milano, Italy), PIMCO Europe GmbH Irish Branch (Company No. 909462, 57B Harcourt Street Dublin D02 F721, Ireland), PIMCO Europe GmbH UK Branch (Company No. FC037712, 11 Baker Street, London W1U 3AH, UK), PIMCO Europe GmbH Spanish Branch (N.I.F. W2765338E, Paseo de la Castellana 43, Oficina 05-111, 28046 Madrid, Spain) and PIMCO Europe GmbH French Branch (Company No. 918745621 R.C.S. Paris, 50–52 Boulevard Haussmann, 75009 Paris, France) are authorised and regulated by the German Federal Financial Supervisory Authority (BaFin) (Marie- Curie-Str. 24-28, 60439 Frankfurt am Main) in Germany in accordance with Section 15 of the German Securities Institutions Act (WpIG). The Italian Branch, Irish Branch, UK Branch, Spanish Branch and French Branch are additionally supervised by: (1) Italian Branch: the Commissione Nazionale per le Società e la Borsa (CONSOB) (Giovanni Battista Martini, 3 - 00198 Rome) in accordance with Article 27 of the Italian Consolidated Financial Act; (2) Irish Branch: the Central Bank of Ireland (New Wapping Street, North Wall Quay, Dublin 1 D01 F7X3) in accordance with Regulation 43 of the European Union (Markets in Financial Instruments) Regulations 2017, as amended; (3) UK Branch: the Financial Conduct Authority (FCA) (12 Endeavour Square, London E20 1JN); (4) Spanish Branch: the Comisión Nacional del Mercado de Valores (CNMV) (Edison, 4, 28006 Madrid) in accordance with obligations stipulated in articles 168 and 203 to 224, as well as obligations contained in Tile V, Section I of the Law on the Securities Market (LSM) and in articles 111, 114 and 117 of Royal Decree 217/2008, respectively and (5) French Branch: ACPR/Banque de France (4 Place de Budapest, CS 92459, 75436 Paris Cedex 09) in accordance with Art. 35 of Directive 2014/65/EU on markets in financial instruments and under the surveillance of ACPR and AMF. The services provided by PIMCO Europe GmbH are available only to professional clients as defined in Section 67 para. 2 German Securities Trading Act (WpHG). They are not available to individual investors, who should not rely on this communication. | PIMCO (Schweiz) GmbH (registered in Switzerland, Company No. CH-020.4.038.582-2, Brandschenkestrasse 41 Zurich 8002, Switzerland). The services provided by PIMCO (Schweiz) GmbH are not available to retail investors, who should not rely on this communication but contact their financial adviser. | PIMCO Asia Pte Ltd (Registration No. 199804652K) is regulated by the Monetary Authority of Singapore as a holder of a capital markets services licence and an exempt financial adviser. The asset management services and investment products are not available to persons where provision of such services and products is unauthorised. | PIMCO Asia Limited is licensed by the Securities and Futures Commission for Types 1, 4 and 9 regulated activities under the Securities and Futures Ordinance. PIMCO Asia Limited is registered as a cross-border discretionary investment manager with the Financial Supervisory Commission of Korea (Registration No. 08-02-307). The asset management services and investment products are not available to persons where provision of such services and products is unauthorised. | PIMCO Investment Management (Shanghai) Limited Unit 3638-39, Phase II Shanghai IFC, 8 Century Avenue, Pilot Free Trade Zone, Shanghai, 200120, China (Unified social credit code: 91310115MA1K41MU72) is registered with Asset Management Association of China as Private Fund Manager (Registration No. P1071502, Type: Other) | PIMCO Australia Pty Ltd ABN 54 084 280 508, AFSL 246862. This publication has been prepared without taking into account the objectives, financial situation or needs of investors. Before making an investment decision, investors should obtain professional advice and consider whether the information contained herein is appropriate having regard to their objectives, financial situation and needs. | PIMCO Japan Ltd, Financial Instruments Business Registration Number is Director of Kanto Local Finance Bureau (Financial Instruments Firm) No. 382. PIMCO Japan Ltd is a member of Japan Investment Advisers Association, The Investment Trusts Association, Japan and Type II Financial Instruments Firms Association. All investments contain risk. There is no guarantee that the principal amount of the investment will be preserved, or that a certain return will be realized; the investment could suffer a loss. All profits and losses incur to the investor. The amounts, maximum amounts and calculation methodologies of each type of fee and expense and their total amounts will vary depending on the investment strategy, the status of investment performance, period of management and outstanding balance of assets and thus such fees and expenses cannot be set forth herein. | PIMCO Taiwan Limited is an independently operated and managed company. The reference number of business license of the company approved by the competent authority is (110) Jin Guan Tou Gu Xin Zi No. 020 . The registered address of the company is 40F., No.68, Sec. 5, Zhongxiao East Rd., Xinyi District, Taipei City 110, Taiwan (R.O.C.), and the telephone number is +886 2 8729-5500. | PIMCO Canada Corp. (199 Bay Street, Suite 2050, Commerce Court Station, P.O. Box 363, Toronto, ON, M5L 1G2) services and products may only be available in certain provinces or territories of Canada and only through dealers authorized for that purpose. | PIMCO Latin America Av. Brigadeiro Faria Lima 3477, Torre A, 5° andar São Paulo, Brazil 04538-133.
The above financial institutions, are collectively referred to herein as the “PIMCO Companies” or each individually as a “PIMCO Company.” The PIMCO Companies publish content on or through pages, profiles, accounts, handles, feeds, channels or other portions of various social media digital platforms, including Facebook, Instagram, Line, LinkedIn, Twitter, Xing and YouTube, for educational, promotional or other business reasons (such content published by the PIMCO Companies, other than paid advertisements, is referred to herein as the “PIMCO Content”).
Facebook, Instagram, Line, LinkedIn, Twitter, WeChat, Xing and YouTube
PIMCO Content published in the PIMCO Companies’ portion of these social media platforms may include both PIMCO Companies’ content and content intended for a specific PIMCO Company. PIMCO Content intended for a specific PIMCO Company will utilize the social media platform’s country settings, where applicable, to limit distribution to those regions in which the PIMCO Company is authorized or may otherwise conduct business. PIMCO Content posted on Facebook, Line, WeChat and Xing are intended solely for the residents of the United States, Taiwan, China and Germany, respectively. PIMCO maintains two corporate handles on Twitter intended for residents of Japan and the Unites States, respectively. Regarding YouTube, PIMCO has established regional channels for those regions in which a PIMCO Company is authorized or may otherwise conduct business. Such channels are intended solely for the residents of the respective region, and are not intended for nor should they be accessed by any person or entity in any other jurisdiction. Each of the PIMCO Companies is solely responsible for its content. Prior to 7 October 2016, the PIMCO Content published on LinkedIn included PIMCO Content intended for residents of the United States, Puerto Rico, Guam and the U.S. Virgin Islands only (“Legacy Content”). Legacy Content available on LinkedIn is not intended for nor should be accessed by any person or entity in any other jurisdiction.
PIMCO Social Media in the United States
PIMCO Content published in the PIMCO Companies’ portion of these social media platforms available for residents of the United States may include both PIMCO Content and PIMCO Investments LLC (“PIMCO Investments”) content. PIMCO Content on these portions of social media platforms is intended only for residents of the United States, Puerto Rico, Guam and the U.S. Virgin Islands (together, the “U.S. Territories”), and is not directed to any person in any jurisdiction where (by reason of that person's nationality, domicile, residence or otherwise) the publication or availability of the PIMCO Content is prohibited. With respect to persons to whom such prohibitions apply, such persons should not access the PIMCO Companies’ portion of any of these social media platforms or PIMCO Content. In particular, investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed in the PIMCO Content. U.S. investors are advised that not all investments or services described in PIMCO Content are available for sale in all states. Any potential investor should satisfy themselves that the purchase of PIMCO products and services is permissible under the laws, rules and regulations applicable to him or her.
Each of Pacific Investment Management Company, LLC (collectively with its affiliates, “PIMCO”) and PIMCO Investments is solely responsible for its content. PIMCO Investments is the distributor of PIMCO investment products, and any PIMCO Content relating to those investment products is the sole responsibility of PIMCO Investments.
Important Information for PIMCO Content Intended for a Specific Region
PIMCO Content for a specific PIMCO Company utilizing country settings is intended to be limited to residents of Australia, Brazil, Canada, China, Colombia, European Union, Hong Kong, Japan, Singapore, Taiwan, United Kingdom, and U.S. Territories, and is not directed to any person in any jurisdiction where (by reason of that person's nationality, domicile, residence or otherwise) the publication or availability of the PIMCO Content is prohibited.
U.S. Territories: Investors considering an investment in a PIMCO product:
Investors should consider the investment objectives, risks, charges and expenses of PIMCO sponsored funds carefully before investing. This and other information can be found in each fund’s prospectus and summary prospectus, if available, which may be obtained by visiting www.pimco.com/investments. Please read them carefully before you invest or send money. Investing involves risk, including possible loss of principal.
The PIMCO Content is being provided on the express basis that this information and any related communications (whether written or oral) are marketing materials intended for informational purposes, and do not constitute investment advice. Receipt of the PIMCO Content will not cause PIMCO to become a fiduciary to any recipient, including with respect to any recipient that is an employee benefit plan or IRA, because such persons are independent and unrelated to PIMCO and its affiliates. if this is not the case, or if there is any relationship with any recipient of which you are aware that would call into question the recipient’s ability to independently fulfill its responsibilities to any employee benefit plan or IRA, we ask that you let us know immediately.
Each recipient is fully aware that PIMCO (i) is not undertaking to provide impartial investment advice, make a recommendation regarding the acquisition, holding or disposal of an investment, act as an impartial adviser, or give advice in a fiduciary capacity, and (ii) has a financial interest in the offering and sale of one or more products and services, which may depend on a number of factors relating to PIMCO’s (and its affiliates’) internal business objectives, and which has been disclosed to the recipient. The PIMCO Content is also being provided based on PIMCO’s understanding that the recipients to whom they are directed are all financially sophisticated and capable of evaluating investment risks independently, both in general and with regard to particular transactions and investment strategies. If this is not the case, we ask that you inform us immediately. You should consult your own separate financial professionals and advisors before making any investment decisions.
The information provided herein is intended to be used solely by the recipient in considering the products or services described herein and may not be used for any other reason, personal or otherwise.
Guidelines for Use of PIMCO Spaces on Social Media Platforms
Please ensure that your contributions in relation to PIMCO Content are relevant and topical. Do not publish statements relating to your experiences with any PIMCO Company or our products, services or a specific investment or performance. We expect you to refrain from publishing such content in any PIMCO Space. You should limit your content in any PIMCO Space to investment themes rather than commenting, positively or negatively, on any PIMCO Company, its products, services or personnel. Do not publish your own advertisements of any kind in any of the PIMCO Companies’ portion of any social media platform, including without limitation Instagram, Line, LinkedIn, Xing, YouTube, Facebook or Twitter (each a “PIMCO Space”), or with respect to any PIMCO Content. Additionally, refrain from publishing, including through hyper-links, false, misleading, inappropriate or offensive material in any PIMCO Space. Do not attempt to promote your investment advice to others or any investments (this includes posting testimonials, giving investment advice, or making recommendations about specific securities, securities strategies, products or services) in any PIMCO Space. Do not attempt to submit to the PIMCO Companies any personal, confidential or account information through any PIMCO Space. Visit www.pimco.com for more information about PIMCO and for client service inquiries. The PIMCO Companies are not subject to any obligations of confidentiality regarding information submitted to them through any PIMCO Space or otherwise through any social media platform. PIMCO Companies reserve the right to block any person who posts content that we deem inappropriate or offensive or constitutes a testimonial, advice, recommendation, or advertisement for securities, products, strategies or services, or is promotional in nature. PIMCO Companies also reserve the right to block followers whose own social media account contains offensive or inappropriate content or serves as a promotional site. PIMCO Companies may change these terms at our sole discretion at any time.
PIMCO Content is Informational and Not Investment Advice
The PIMCO Content is not intended for distribution to, or use by, any person or entity in any jurisdiction where such distribution or use would be contrary to law or regulation or which would subject any PIMCO Company or any of PIMCO Companies’ products or services to any authorization, registration, licensing or notification requirement within any jurisdiction outside of those jurisdictions in which the underlying financial institutions are licensed to operate. No PIMCO Content published on any PIMCO Space is an offer to sell or a solicitation of an offer to buy shares of any investment product, including without limitation, any PIMCO Company investment product or service, to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the laws of such jurisdiction. Additionally, all PIMCO Content published on any social media platform is for informational purposes only and should not be considered as investment advice or a recommendation to invest in any particular security, strategy or investment product. PIMCO Content is not intended as a complete analysis of every material fact regarding any country, region, market, industry, strategy or investment. While PIMCO Content will regularly provide information and ideas, it does not provide specific investing, trading or product advice. References to specific securities and their issuers or other investments are not intended and should not be interpreted as recommendations to purchase, sell or hold such securities or other investments. Further, PIMCO Companies’ products and strategies may or may not include the investments referenced and, if such investments are included, no representation is being made that such investments will continue to be included. Personnel of the PIMCO Companies may or may not invest, directly or indirectly, in the specific investments and their issuers that are referenced in PIMCO Content by such personnel. The PIMCO Companies are not engaged in rendering any tax, legal or accounting advice. Please consult with a qualified professional for this type of advice.
Although the PIMCO Companies have taken reasonable care to ensure that the PIMCO Content is accurate, no representation or warranty (including liability towards third parties), expressed or implied, is made as to its accuracy, reliability or completeness by the PIMCO Companies. Further, PIMCO Companies’ opinions, views, comments and analyses are rendered as of the date of the applicable PIMCO Content and can change without notice due to changes in market, economic or other conditions.
Third-Party Content in any PIMCO Space and Links to Third-Party Sites
Social media platforms and pages also contain third-party content, and the PIMCO Companies do not endorse any third-party nor does a third-party represent PIMCO Companies’ views.
Third-party content is typically published in a PIMCO Space without our prior review. Third-party content in any PIMCO Space is both the view and responsibility of the third-party, not of the PIMCO Companies. Any opinions expressed or comments posted by users are solely theirs, and do not represent our views. The PIMCO Companies cannot guarantee the appropriateness, accuracy or usefulness of any third-party content or of any third-party hyperlink, nor are they responsible for any unauthorized or copyrighted materials contributed by a third-party in any PIMCO Space. The PIMCO Companies expressly disclaim any responsibility for the content, the accuracy of the information, and/or quality of products or services provided by or advertised on these third-party sites, as posted by third-parties in any PIMCO Space.
Any descriptions of, references to, or links to other products, publications or services do not constitute an endorsement, authorization, sponsorship by, or affiliation with the PIMCO Companies with respect to any hyper-linked site or its sponsor, unless expressly stated by the PIMCO Companies. Any actions or engagement with other persons on our social media accounts is not an endorsement of that person. Follows, retweets, favorites, other reactions or replies, or links to third-party content are not an endorsement by the PIMCO Companies of any person, product or service. The PIMCO Companies are not responsible for, do not adopt and do not endorse any third-party unaffiliated with us.
PIMCO Companies reserve the right to remove, alter, edit or adapt any third-party content in any PIMCO Space. However, if PIMCO Companies do not remove a third-party post, it is not an endorsement of the content.
Third Party Privacy Policies
Protect Your Information and Remember Use of Social Media Platforms is at Your Own Risk
The use of social media (or its software or materials) is at your own risk. You are responsible for protecting your account and other information when using social media. The PIMCO Companies will never ask you to share your private account information through our social media accounts. Never disclose account or other personal information on any PIMCO Space. The PIMCO Companies do not provide customer service, conduct financial transactions, or accept customer complaints through any PIMCO Space. If you share content with us, we can reuse it, and you agree that we may do so without compensation or attribution to you. Remember that the PIMCO Companies are not responsible for any content found on social media or linked websites. We do not endorse, recommend or adopt any content or linked websites other than the content posted by the PIMCO Companies.
The PIMCO Companies and their respective affiliates, directors, officers, licensed and/or registered representatives or employees are not liable for any direct, indirect, incidental, consequential, punitive or special damages arising out of or in any way connected with your access or use of, or inability to access or use, a social media platform or page, any PIMCO Space thereon or reliance on any PIMCO Content or any failure of performance, interruption, defect, delay in transmission, computer viruses or other harmful components, or line or system failure associated with a social media platform or any PIMCO Space thereon. Use of a social media platform or any PIMCO Space thereon is at your own risk.
Important Information about Investments
Past performance is no guarantee of future results. All investments contain risk and may lose value. Investing in the bond market is subject to certain risks including market, interest-rate, issuer, credit, and inflation risk; investments may be worth more or less than the original cost when redeemed. Investing in the bond market is subject to risks, including market, interest rate, issuer, credit, inflation risk, and liquidity risk. The value of most bonds and bond strategies are impacted by changes in interest rates. Bonds and bond strategies with longer durations tend to be more sensitive and volatile than those with shorter durations; bond prices generally fall as interest rates rise, and the current low interest rate environment increases this risk. Current reductions in bond counterparty capacity may contribute to decreased market liquidity and increased price volatility. Bond investments may be worth more or less than the original cost when redeemed. Investing in foreign denominated and/or domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. Commodities contain heightened risk including market, political, regulatory, and natural conditions, and may not be suitable for all investors. Equities may decline in value due to both real and perceived general market, economic, and industry conditions. Where investments involve currency exposure, changes in rates of exchange may cause the value of the investment to go up or down. The above is not intended to be a complete representation of the risks of investment. Any tax benefits referred to in any PIMCO Content are subject to change and their availability and value will depend on your individual circumstance. Such investments are not deposits or obligations of, or guaranteed or endorsed by, any bank, and are not federally insured or guaranteed by the U.S. government, the FDIC, the Federal Reserve Board or any other agency. There is no guarantee that any PIMCO Content discussing an investment strategy will work under all market conditions or will be appropriate for all investors and each investor should evaluate their ability to invest long-term, especially during periods of downturn in the market. Investors should consult their financial and/or tax advisor prior to making any investment decision. Some of the investments and services discussed in PIMCO Content may not be available in or appropriate for a retirement savings plan. Please contact your financial advisor about any investment restrictions associated with your particular plan.
Certain PIMCO Content may include statements of future expectations and other forward-looking statements that are based on the PIMCO Companies’ view when made and assumptions, and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words “may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, potential, or continue” and similar expressions identify forward-looking statements.
Dated: September 2021
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